INSMED Inc · Drugmakers

INSM

High riskNext report: In 1 days (est.)

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The short version

A company still losing money with growing sales, with high risk. Institutions are adding.

Going well

Sales up 296% in the latest quarter vs a year ago
Sales up 67% last year
Sales growth speeding up

Watch out for

About 7 months of cash left at its current burn
Share count growing 17.4% a year (dilution)
Losing money, losses are large next to sales

Money moves

No insider buying or selling in the last 30 days
Institutions added 2.4% to their holdings in the quarter ending June 2026 (355 bought, 346 sold)
Held by Ray Dalio (Bridgewater), Stanley Druckenmiller (Duquesne)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$93.36-0.1% that day

Company value: $20.4B; Share price times all shares
Price vs sales: 17.9x; No profit over the last year, so this compares value with sales instead
Cash vs value: 3%; Cash as a share of company value
Debt vs value: 3%; Debt as a share of company value

From INSM's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$425.5M+296% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.1B, up 186% from the 12 months before. Over 5 years, sales grew about 30% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of INSM. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).

Sales growth+30% a yearRecently: +30% a yearProfit margin10%Last 12 months: -76.9%P/E at the end15xMany steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$4.2B

Profit in 5 years$422M

Price these guesses point to$18.01-81% vs $93.36 todayAbout -28% a year, before dividends

What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 81% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

0/5Weak

MissDebt under half of equityNot relying on borrowed money.0.74x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-210.5%
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$967.6M
MissShare count not growingNot diluting owners. Falling means buybacks.+61.8% in 3 years

Revenue: $606.4M; +66.7% vs prior year
5-year growth: +29.8%/yr; revenue, per year
Total debt: $546.8M; 0.74x equity
Current ratio: 3.83x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.